Fabrizio, Kira R.; Rose, Nancy L.; Wolfram, Catherine D. - In: American Economic Review 97 (2007) 4, pp. 1250-1277
While neoclassical models assume static cost-minimization by firms, agency models suggest that firms may not minimize costs in less-competitive or regulated environments. We test this using a transition from cost-of-service regulation to marketoriented environments for many US electric...